Cardo Group Expands Reach with HeatCare Acquisition
Deal News | Jan 15, 2025 | FM Business Daily
Cardo Group has acquired HeatCare Oil and Gas Limited, a prominent provider of energy services in Scotland. HeatCare, established in 2000, is renowned for its expertise in energy-efficient heat solutions and comprehensive property maintenance services. This acquisition marks an expansion of Cardo's geographical footprint and service offerings, particularly in energy solutions for social housing and public buildings. Cardo CEO Liam Bevan highlighted the synergy in capabilities and the potential for enhanced service delivery with HeatCare’s skilled team joining the group. HeatCare’s leadership, under Calum McCombie and Darren McLeod, will continue post-acquisition, ensuring a seamless transition. This acquisition aligns with Cardo Group's strategic focus on broadening its service offerings and consolidating its presence in the UK, with a specific emphasis on growth in Scotland by early 2025.
Sectors
- Energy Services
- Property Maintenance
Geography
- United Kingdom – Cardo Group's acquisition of HeatCare expands its footprint in the UK market, particularly focusing on growth within Scotland.
- Scotland – HeatCare operates in Scotland, and the acquisition enhances Cardo Group's presence in this region, aligning with their strategic expansion plans.
Industry
- Energy Services – The article discusses Cardo Group's acquisition of HeatCare, which specializes in energy-efficient heat solutions and services, indicating a focus on the energy services industry.
- Property Maintenance – HeatCare provides comprehensive maintenance services, including plumbing, electrical work, and refurbishment, relevant to the property maintenance industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cardo Group | Acquiring Company | Company | A provider of property services and energy solutions, expanding its geographical reach and capabilities through acquisitions. |
| HeatCare Oil and Gas Limited | Target Company | Company | A Scottish company known for its energy-efficient heating solutions and comprehensive property maintenance services. |
| Liam Bevan | CEO of Cardo Group | Person | Leads Cardo Group, overseeing strategic expansions like the HeatCare acquisition. |
| Calum McCombie | Director of HeatCare | Person | Maintains a key leadership role at HeatCare, facilitating the transition post-acquisition by Cardo Group. |
| Darren McLeod | Director of HeatCare | Person | Plays a continued leadership role at HeatCare, supporting the transition into Cardo Group’s operations. |